Dravida Munnetra Kazhagam leader S S Palanimanickam on Wednesday assumed office as Minister of State for Finance and indicated that he would not hesitate in pursuing old tax cases against his party's arch rival Tamil Nadu Chief Minister J Jayalalithaa.

"All old tax cases against anybody will be pursued," he told reporters, when asked if he would reopen old tax cases against the AIADMK chief.

Palanimanickam and other six DMK ministers did not assume office earlier following a row over allocation of portfolios.

Manickam said he would ensure that revenue buoyancy was maintained. "Tax collections were progressive last year and looked encouraging this year," he said.

There were reports earlier that DMK was not given MoS in Finance as Finance Minister P Chidambaram had insisted there should be no deputies under him, that too from DMK.

Chidambaram, who escorted Palanimanickam to his new office, was at pains to explain he has good relations with the MoS.

"We are good friends. We are from nearby constituencies in Tamil Nadu. We have been together in Lok Sabha and sat hours discussing various issues," Chidambaram said, adding Palanimanickam's appointment as his deputy would take away some of his burden in the ministry.